Litecoin’s Daily Active Addresses Have Increased by 6x in 1 Year

  • Litecoin’s daily active addresses have increased by a factor of 6 in 12 months
  • Litecoin new daily addresses have increased by a factor of 5x in the same time period
  • On-chain metrics point towards increasing use of LTC 
  • Litecoin’s MimbleWimble is now ‘code complete’ and implementation could increase the use and value of LTC

The Litecoin network has had impressive growth in the last year in terms of on-chain metrics. This is according to data by the Project Director of the Litecoin Foundation, David Schwartz, where he highlighted two areas of growth for the Litecoin network.

Firstly, new daily Litecoin addresses now number close to 100,000 which is a 5x increment in one year as highlighted in the following chart.

Litecoin's Daily Active Addresses Have Increased by 6x in 1 Year 17

Secondly, Litecoin’s active daily addresses have increased from approximately 50,000 to 300,000 in the same time period. This is a 6x increment of active daily addresses as highlighted by the following chart courtesy of David Schwartz.
Litecoin's Daily Active Addresses Have Increased by 6x in 1 Year 18

Litecoin’s MimbleWimble is Now ‘Code Ready’

The above on-chain data related to Litecoin’s daily active addresses is bullish for the long-term utility and value of LTC.

Additionally, Litecoin’s final MimbleWimble code was released earlier this week and is now ready for auditing by fellow LTC developers. According to the official announcement, the review process might take a few weeks or months with the final code implementation resting solely in the hands of the Litecoin community.

The full process towards MimbleWimble implementation is explained below.

This reviewal process may last a few weeks to a few months, depending on how smoothly the auditing process advances and if any corrections are required.

The finalized code will then be incorporated into Litecoin’s main codebase and will be ready for node operators and miners to signal support for.

Essentially, after code implementation, it’ll then be up to the Litecoin community to decide the fate of how quickly MWEB will activate.

If MimbleWimble is finally accepted by the Litecoin community, chances are that it would attract new users to the Litecoin network and ultimately drive up the demand for LTC.

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